Stellar is a platform that connects banks, payments systems, and people aiming to move money quickly, reliably, and at almost no cost. On February 6 Stellar has announced its partnership with Baracoin, which is Africa’s Digital Currency created to provide a state of the art economic ecosystem and deliver modern financial services, from Cape to Cairo, at low cost and to the benefit of both trader and customer.
The partnership is aimed at building a low-cost, border free network that will connect underbanked African merchants and customers through blockchain technology.
As it was stated in Baracoin announcement, Stellar is dedicated to providing low-cost financial access to the unbanked all around the world, and transactions on the Stellar network cost very low, which will allowing Baracoin to lower the cost it passes on to its customers in service charges.
Speaking with the Stellar head of partnerships, Mr Ladipo over the past few weeks, I’ve seen just how committed they are to providing high quality financial services in Africa and have no doubt that this will be a long and fruitful partnership.
Dr Robert Maweni
Moreover, Stellar was chosen by Baracoin company because of its technical advantages as it is capable of processing 1000 operations every second, with a latency of just 2–5 seconds, and also can protect customers against scams and bad purchases.
At the moment of press, these are main market parameters of Stellar:
Average price: $0,273688
Marketcap: $5 044 611 863
24h volume: $324 690 000